Trade ministers of India and China will meet in the first week of April in Beijing to consider the recommendations of the Joint Task Force on the India-China Free Trade Agreement. The ministers would discuss in what way the recommendations of the Task Force have to be worked upon and how to take the process forward, said Dinesh Sharma, Commerce Ministry, Joint Secretary. The Indian industry has been opposing an FTA with China, until it gets the market economy status by implementing transparent pricing mechanisms. The commerce ministry also is in favour of going ahead with an FTA, only if China conforms to market economy norms.

The current bilateral trade is $38.6 billion. India is the tenth largest trade partner of China, while China is the second largest trade partner of India. According to the Federation of Indian Chambers of Commerce and Industry (Ficci), Chinese exports to India increased by more than eight times between 2001-02 and 2006-07, while the country抯 overall goods imports increased by three and a half times between 2000 and 2007.

Moreover, negotiations on the India-Korea FTA are also in the final stage of negotiations.